Choosing the right name for your business is a critical decision that can impact your brand's success. The right name should reflect your brand identity, resonate with your target audience, be legally legit (and available) as well as – easy to say (and remember!)
A strong business name can set the foundation for a successful brand and help you stand out in a competitive market. Remember, your business name is the first impression customers will have of your brand, so make it count.
Check out our tips below for nailing your business name:
1. Define Your Brand Identity
Start by establishing a clear understanding of your brand identity. This includes your brand values, mission, and target audience.
Brand Values: These are the principles and beliefs that will guide your business decisions and actions. Your name should reflect these values to create a strong, cohesive brand identity. Ask yourself questions like:
- What do we stand for?
- What kind of experience do we want to offer our customers?
- How do we want to be perceived in the market?
Brand Mission: Your brand mission is a statement that defines the purpose of your business and what you aim to achieve. It should be clear and concise. For example, if your mission is to provide eco-friendly products, your business name should hint at sustainability. A strong brand mission can guide you in selecting a name that aligns with your goals.
Target Audience: Knowing your target audience is crucial. Your business name should appeal to the demographics and psychographics of your ideal customers. Consider their age, gender, interests, and buying behavior. A name that resonates with your audience can help build an emotional connection and brand loyalty.
Example: Consider Apple Inc. Their brand values emphasise innovation, simplicity, and user-friendliness. Their mission is to bring the best user experience to their customers through innovative hardware, software, and services. Apple’s target audience ranges from tech enthusiasts to everyday users seeking intuitive and reliable technology. The name “Apple” is simple, memorable, and reflects the company's ethos of making technology accessible and friendly.
2. Brainstorm Potential Names
Start brainstorming names. Don’t filter ideas at this stage; let creativity flow. Use techniques like mind mapping, word association, and combining words. Aim for names that are unique, memorable, and reflective of your brand identity. Remember! Brand names dont need to include the type of product or service you offer – they also don't event have to be an ‘actual’ or English defined word – some of the best brand names are made up words so sky is the limit!
We recommend creating a shortlist of between three to five names before moving to the next step.
3. Check Name Availability
The reason for the shortlist is because you may hit a commercial or legal hurdle with one or two – so don’t put all your eggs in one basket straight away.
Ensuring your business name is available across various platforms and legal registries is crucial. Here are some steps to consider taking to ensure you do a thorough search:
- Google Searches: Conduct thorough Google searches to see if the name is already in use by other businesses, especially those in your industry. This helps avoid confusion and potential trademark disputes.
- Domain Name: Use tools like Namecheap or GoDaddy to check if the domain name is available. An exact match domain is beneficial for online branding and search engine optimisation.
- Social Media Handles: Check if the name is available on major social media platforms like Facebook, Instagram, and X. Consistency across all platforms is key for brand recognition.
- ABR and ASIC Name Check: In Australia, use the Australian Securities and Investments Commission (ASIC) website to ensure the name isn’t already registered by another business (company or trading).
- IP Australia: Check the availability of your chosen name with IP Australia to ensure it’s not already trade marked. Check out our blog:
I have a registered business and company name do I need to register a trademark?
4. Consider Other Languages or Slang use
Ensure that your business name doesn’t have negative or inappropriate slang meanings or uses in other languages, especially if you plan to operate internationally. Tools like Google Translate can help you check the meanings of your name in different languages. This step is crucial to avoid potential embarrassment and maintain a positive brand image.
5. Assess Ease of Spelling and Pronunciation
Your business name should be easy to spell and pronounce. Complex or confusing names can deter potential customers and make word-of-mouth marketing challenging. Test the name with a diverse group of people to see if they can easily spell and pronounce it. This feedback can help you refine your choice.
6. Finalise and Register Your Name
Once you’ve confirmed the availability and suitability of your business name, finalize your choice and proceed with registration.
Register your name with ABR + ASIC and apply to trade mark it with IP Australia.
Related blog post “Trademark or business name what’s the difference”
The team at Foundd can help when it comes to all things Trade marking – from viability of names to conflicting marks on the register to what classes to register within, our team is ready to share their knowledge with you and take one of your business to-dos off your plate with our trade mark registration services – book a discovery call with us HERE or complete our Questionnaire so we can get down to business looking at your chosen name!
Naming your business is a significant step that requires careful consideration and research. By following these six steps, you can choose a name that reflects your brand identity, resonates with your target audience, and is legally legit too 😊
***Disclaimer. Please read!!***
This article is for general information purposes only and should be used solely as general guidance. It does not and is not intended to represent legal advice or other professional advice.
© Foundd Legal Pty Ltd
